The benchmark indices were trading marginally higher on Wednesday ahead of the US Fed review. The BSE Sensex was trading 0.18% or 40.32 points higher at 21,872.93 points, while the NSE Nifty was trading 0.24% or 15.70 points higher at 6,532.35 points at 11.30 am IST.

The two-day meet of the members of the Federal Open Markets Committee (FOMC), who would decide on the future course of QE tapering, ends on Wednesday.

Meanwhile, on Tuesday, US brokerage Goldman Sachs upgraded India to 'overweight'. "We roll our NIFTY 12-month target to 7,600 (14.8-times target P/E), which implies a 17% upside from current levels," the brokerage said in its report.

Among sectoral indices, the BSE FMCG (0.98%), BSE Bankex (0.65%) and BSE Metal (2.30%) were the major gainers. Among individual stocks, Hindalco (5.01%), Tata Steel (3.83%) and Sesa Sterlite (2.79%) were the major gainers on the 30-share Sensex.

Among Asian indices, Hang Seng (-0.19%), Kospi (-0.13%), Straits Times (-0.63%) and Taiwan Taiex (-0.49%) were trading in the red.